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Sales at Simon & Schuster UK increased by 18% year on year for the three months to end of June with a "substantial" increase in profits, m.d. Ian Chapman has said.
This follows the latest financial statement from its global business for the same trading period. http://www.thebookseller.com/news/125127-simon--schuster-sees-profits-gr... target="_blank">It announced yesterday profits had increased by 64% to $16.9m (£10.6m) and sales grew by 5% to $189.7m (£119.7m). Group chief executive Carolyn Reidy also revealed that adult e-book sales "right now" accounted for approximately 8% of the total.
Chapman refused to disclose sales figures or the profit increase but said turnover had been driven by paperback performance. He identified titles by Paige Toon, Jane Costello, Lynda La Plante and Phillippa Gregory as key during the period as well as Becca Fitzpatrick's Hush Hush in children's.
He said: "We're currently reviewing where we are and we think by the end of August we will be considerably ahead of last year. I've been encouraging by backlist sales and e-book sales have been very strong.
"Our profit is also looking very strong. The increase has been substantial."